-Outlook Recent studies point to two areas where NREGS has had an impact — rural education and Naxalite conflict. "Economics is haunted by more fallacies than any other study known to man."  This rather depressing assessment of the field is the opening sentence of Henry Hazlitt's classic primer, Economics in one lesson. In Hazlitt's view, most economists only measure the immediate impact of their policies. A good economist, Hazlitt contended, looks not merely...

-The Hindustan Times The stereotype of a reporter landing in a new city and then getting political insights from the taxi driver on the way from the airport is not without merit. For a visitor, the first encounter is with the cabbie, and cabbies, as assumed, have not just local knowledge, but much wisdom too. A cabbie’s views often get extrapolated and incorporated into much of the reporting. As true as this...

-The Economic Times Blog Two apparently unrelated events — a sharp fall in factory output growth and a spike in consumer price inflation —point to deep problems underlying the economy. September industry growth fell to 3.6%, the lowest in four months. Meanwhile, the consumer price index (CPI) went up to 5% in October, higher than the consensus estimate of 4.8%, headed north for the third successive month. The rise in prices is driven...

-Hindustan Times What happens when the tyre of a speeding car bursts or blows up? The obvious answer is an accident along with casualties as the vehicle goes out of control with the driver hardly getting a chance to react. There have been technologies for limiting the impacts of punctures, but there hasn’t been a solution to decrease the chances of a tyre bursting due to overheating. However, a latest innovation has...

-Down to Earth The rate at which informal housing is being destroyed probably far exceeds the rate at which formal housing is being constructed Troubled by the degradation of environment on and around railway tracks, the National Green Tribunal (NGT) recently directed Delhi government to relocate all illegal settlements along tracks in Delhi. The tribunal reasoned that the residents of these settlements practise open defecation and litter on the tracks. Housing of the...